SRC Energy Inc (SRCI) Expected to Post Earnings of $0.09 Per Share

SRC Energy Inc (SRCI) Expected to Post Earnings of $0.09 Per Share

On average, analysts expect that SRC Energy will report full-year earnings of $0.50 per share for the current fiscal year, with EPS estimates ranging from $0.32 to $0.65. For the next financial year, analysts expect that the company will report earnings of $0.87 per share, with EPS estimates ranging from $0.50 to $1.32. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for SRC Energy.

Wall Street analysts forecast that SRC Energy Inc (NASDAQ:SRCI) will announce earnings of $0.09 per share for the current quarter, according to Zacks. Nine analysts have made estimates for SRC Energy’s earnings, with the highest EPS estimate coming in at $0.13 and the lowest estimate coming in at $0.07. SRC Energy posted earnings of ($0.06) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 250%. The firm is expected to announce its next earnings report on Monday, January 1st.

SRC Energy (NASDAQ:SRCI) last issued its earnings results on Thursday, May 4th. The oil and natural gas company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The company had revenue of $45.06 million during the quarter, compared to analyst estimates of $43.60 million.

A number of equities research analysts have commented on the stock. Simmons raised their target price on shares of SRC Energy from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. Capital One Financial Corp. assumed coverage on shares of SRC Energy in a research note on Tuesday, April 25th. They set an “overweight” rating and a $13.00 target price on the stock. Piper Jaffray Companies restated an “overweight” rating and set a $11.00 target price on shares of SRC Energy in a research note on Wednesday, April 12th. Wells Fargo & Co cut shares of SRC Energy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 3rd. Finally, Zacks Investment Research cut shares of SRC Energy from a “buy” rating to a “hold” rating in a research note on Saturday, March 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $15.38.

In other news, Director Paul Korus bought 5,000 shares of the firm’s stock in a transaction on Wednesday, March 29th. The shares were bought at an average price of $8.35 per share, for a total transaction of $41,750.00. Following the purchase, the director now owns 16,910 shares in the company, valued at $141,198.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

A number of large investors have recently added to or reduced their stakes in SRCI. Piedmont Investment Advisors LLC bought a new stake in SRC Energy during the first quarter valued at about $101,000. Teachers Retirement System of The State of Kentucky bought a new stake in SRC Energy during the first quarter valued at about $561,000. Goldman Sachs Group Inc. bought a new stake in SRC Energy during the first quarter valued at about $42,891,000. Lowe Brockenbrough & Co. Inc. bought a new stake in SRC Energy during the first quarter valued at about $262,000. Finally, Credit Suisse AG bought a new stake in SRC Energy during the first quarter valued at about $2,166,000.

Shares of SRC Energy (SRCI) opened at 6.88 on Thursday. The firm’s market cap is $1.38 billion. The firm has a 50-day moving average of $7.57 and a 200-day moving average of $8.35. SRC Energy has a 12 month low of $5.87 and a 12 month high of $10.38.

About SRC Energy

SRC Energy Inc, formerly Synergy Resources Corporation, is an independent oil and natural gas company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in and around the Denver-Julesburg Basin (D-J Basin) of Colorado. The D-J Basin generally extends from the Denver metropolitan area throughout northeast Colorado into Wyoming, Nebraska, and Kansas.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SRCI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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